Eli Lilly and Company (NYSE:LLY – Get Rating) – Equities researchers at SVB Leerink upped their Q2 2023 EPS estimates for Eli Lilly and in a report issued on Monday, May 1st. SVB Leerink analyst D. Risinger now anticipates that the company will post earnings per share of $2.11 for the quarter, up from their prior estimate of $1.89. The consensus estimate for Eli Lilly and’s current full-year earnings is $8.84 per share. SVB Leerink also issued estimates for Eli Lilly and’s Q3 2023 earnings at $2.37 EPS, Q4 2023 earnings at $2.73 EPS, FY2023 earnings at $8.78 EPS, FY2024 earnings at $12.05 EPS, FY2025 earnings at $16.18 EPS, FY2026 earnings at $19.95 EPS and FY2027 earnings at $24.95 EPS.
Several other brokerages have also commented on LLY. Jefferies Financial Group boosted their price target on Eli Lilly and from $290.00 to $310.00 and gave the company a “hold” rating in a research note on Monday, April 3rd. Barclays increased their target price on Eli Lilly and from $400.00 to $420.00 in a research note on Monday. Guggenheim dropped their price objective on Eli Lilly and from $395.00 to $392.00 and set a “buy” rating on the stock in a research note on Tuesday, April 11th. Societe Generale cut Eli Lilly and from a “hold” rating to a “sell” rating and set a $278.00 price objective on the stock. in a report on Wednesday, February 15th. Finally, Morgan Stanley boosted their price target on Eli Lilly and from $444.00 to $448.00 and gave the stock an “overweight” rating in a research report on Monday, April 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $401.60.
Eli Lilly and Price Performance
Eli Lilly and (NYSE:LLY – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.73 by ($0.11). The company had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.87 billion. Eli Lilly and had a net margin of 20.54% and a return on equity of 63.64%. The company’s revenue was down 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.62 earnings per share.
Eli Lilly and Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Monday, May 15th will be paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, May 12th. Eli Lilly and’s dividend payout ratio (DPR) is presently 71.86%.
Insiders Place Their Bets
In other news, major shareholder Lilly Endowment Inc sold 225,000 shares of the firm’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $398.48, for a total transaction of $89,658,000.00. Following the completion of the transaction, the insider now directly owns 101,908,810 shares in the company, valued at $40,608,622,608.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 225,000 shares of Eli Lilly and stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $398.48, for a total transaction of $89,658,000.00. Following the completion of the sale, the insider now directly owns 101,908,810 shares of the company’s stock, valued at approximately $40,608,622,608.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anne E. White sold 2,500 shares of the company’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $342.76, for a total transaction of $856,900.00. Following the completion of the transaction, the executive vice president now owns 60,426 shares of the company’s stock, valued at approximately $20,711,615.76. The disclosure for this sale can be found here. Insiders sold a total of 914,703 shares of company stock valued at $327,588,004 over the last quarter. 0.13% of the stock is owned by insiders.
Hedge Funds Weigh In On Eli Lilly and
Institutional investors and hedge funds have recently made changes to their positions in the stock. Y.D. More Investments Ltd acquired a new position in shares of Eli Lilly and in the 4th quarter valued at $26,000. Bogart Wealth LLC raised its position in shares of Eli Lilly and by 193.3% during the 1st quarter. Bogart Wealth LLC now owns 88 shares of the company’s stock worth $30,000 after purchasing an additional 58 shares during the period. Destiny Wealth Partners LLC grew its position in shares of Eli Lilly and by 97.8% during the fourth quarter. Destiny Wealth Partners LLC now owns 91 shares of the company’s stock worth $33,000 after acquiring an additional 45 shares during the last quarter. Moisand Fitzgerald Tamayo LLC raised its holdings in shares of Eli Lilly and by 292.6% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 106 shares of the company’s stock valued at $34,000 after buying an additional 79 shares during the last quarter. Finally, New England Capital Financial Advisors LLC acquired a new position in Eli Lilly and during the 4th quarter worth $35,000. 82.13% of the stock is owned by institutional investors and hedge funds.
About Eli Lilly and
Eli Lilly & Co engages in the discovery, development, manufacture, and sale of pharmaceutical products. The firm’s products consist of diabetes, oncology, immunology, neuroscience, and other products and therapies. The company was founded by Eli Lilly in May 1876 and is headquartered in Indianapolis, IN.
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